Bitcoin’s consistent decline this week, culminating in its drop below the crucial $110,000 level yesterday, has significantly impacted market sentiment.
This pullback has gradually driven many altcoins to multi-week lows, presenting strategic accumulation opportunities for major investors. Amidst this, crypto whales have been buying certain altcoins, indicating renewed confidence in specific tokens. This piece explores some of them.
World Liberty Financial (WLFI)
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WLFI, linked to Donald Trump, is one of the primary altcoins attracting whale interest this week, despite a 13% drop in its value over the past week.
On-chain data from Santiment indicates that whale addresses holding between 1 million and 10 million WLFI tokens have collectively increased their holdings by 26.72 million during the reviewed week.
Today, World Liberty Finance announced that its team will initiate a token buyback and burn mechanism this week. If this move incites renewed bullish momentum, coupled with the recent increase in whale demand, WLFI’s price could reach $0.2059.
Conversely, if demand decreases, the token could retrace to $0.1814.
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PEPE
The Solana-based meme coin PEPE has also garnered considerable attention from crypto whales.
According to Nansen, large investors holding more than $1 million in PEPE tokens have increased their holdings by 1.36%, leveraging broader market weakness to build their positions.
This accumulation signals increasing confidence among high-net-worth investors, who perceive the current market dip as a strategic entry point.
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Ongoing whale activity could bolster further gains for PEPE, pushing its price up to $0.00000984.
Conversely, a decrease in whale purchases may leave the token susceptible to further short-term drops, potentially leading its price to fall to $0.00000830.
Polygon Ecosystem Token (POL)
POL’s price has declined by 16% in the past week. During this downturn, large wallet addresses holding between 100,000 and 1 million tokens are actively accumulating the altcoin, taking advantage of lower prices in the overall crypto market.
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According to Santiment, during the reviewed week, this group of investors has increased their supply by 220,000 POL tokens.
This trend indicates that POL whales are capitalizing on its underwhelming performance and positioning themselves ahead of a potential market recovery.
If accumulation continues, POL could reverse its current downtrend and ascend to $0.2308.
However, renewed sell-offs could drive the token’s price down to $0.1092.
